Leeds Building Society offers savers 10 year bond paying 4%

Leeds Building Society has launched a long-term fixed rate monthly income bond with a best buy return of 4% (4.07% gross AER).

The innovative new bond – paying eight times Bank of England Base Rate (BBR) – has been introduced in response to customer demand and is aimed at savers looking to boost their monthly income from their investments.
 
“The 10 year fixed rate income bond we introduced towards the end of 2013 was extremely popular and we expect this latest bond to attract similar levels of interest,” said Kim Rebecchi, Leeds Building Society’s Sales and Marketing Director.
 
“In the historically low interest rate environment, a savings product with a competitive return which generates monthly income is particularly appealing to savers on fixed incomes.
 
“We know there are savers seeking longer-term investments and at the end of the bond’s 10 year term, customers will have benefited from an income totalling 40% and still have all their capital.”
 
The 10 year fixed rate income bond has a minimum balance of £10,000 and no withdrawals are permitted during the term.
 
For more information, customers can call into their local branch, visit the website at leedsbuildingsociety.co.uk.